1611 N 180 E #64

Tooele, UT 84074

$98,500C-

3 bd · 2.0 ba · 1,216 sqft · Built 2021 · Manufactured · Active · 24 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,056/mo
• Mortgage (P&I): −$517
• Tax + insurance: −$164
• HOA: −$860
• Vac / Maint / Mgmt: −$432
• Net cashflow: $84/mo
• Annual: $1,003/yr
• Cap rate: 7.31%
• Cash-on-cash: 3.64%
• DSCR: 1.16
• 1% rule: 2.09%
• Cash to close: $27,580

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $98k. Condition is rated poor.
• At list price, monthly cash flow is $84 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $98k).
• It's been on market 24 days — a 2% lower offer ($97k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $97k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $681 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 77/100 on livability (#52 in UT, #3,142 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, cost of living A-; Watch: amenities F.
• Tooele District (town): math 32% / reading 34% proficiency, ranked #62 of 80 in UT (top 78%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Copper Canyon School (math 22% / reading 22%, grade F, #509 of 585 statewide, top 88%, 468 students, 33% FRL); Clarke N. Johnsen Jr High (math 40% / reading 41%, grade F, #69 of 138 statewide, top 51%, 892 students, 45% FRL); Stansbury High (math 23% / reading 50%, grade F, #86 of 171 statewide, top 52%, 2,010 students, 14% FRL) — zoned schools at 31% FRL track the district average.
• Watch-outs: HOA is 42% of rent.
• Market conditions: Rents rising (+2.5%/yr); 589 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 867 units permitted in Tooele County in 2024 (87 in 5+ unit buildings).
• Tooele County population projected at +33% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 3 sale attempts since 4y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Climate carrying-cost: major flood risk; severe wildfire risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
• What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
• How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Repairs flagged (vision-AI assessment)

• Major: exterior siding — Significant wear and tear
• Major: roof — No visible damage, but photos don't show
• Major: landscaping — Overgrown grass